Going solar has many benefits in the state of New Jersey. Going solar means changing your energy to using solar energy as your primary energy source. Solar energy has become increasingly popular among residents in New Jersey. Whether you’re thinking of making the switch for economical reasons or to help make an environmental impact, going solar can be especially beneficial in the state of New Jersey. We will talk about the many benefits of going solar and how it can save you money in the long run.
Going Solar In New Jersey
There are many benefits to going solar, but going solar in New Jersey comes with a whole set of exciting benefits. First off, there is a program for the state of New Jersey that encourages companies to push solar energy and give rewards to those who make the switch. The Renewable Portfolio Standard (RPS) program is meant to reward those who make a solar switch. New Jersey’s goal is to have 50% of energy in the state come from Class I renewable resources by 2030. In addition, New Jersey is offering a lot of awesome incentives to switch over to solar energy. This doesn’t even include the benefits of actually going solar, only the state’s incentives. Let’s talk about what benefits will come with going solar.
Why Should You Go Solar?
“Remember, in a 20-year lifespan, you will be saving $24,000, and your investment will be far worth it”, says All Season Solar. This means you will be saving over $1,000 per year. You will save more money as time goes on. Electric bills will continue to rise. However, when switching to solar energy, you are guaranteed to have steady savings on utility bills. Overall electric bills rise at least 2.2% each year.
Another benefit to going solar in New Jersey is it increases home value. If you are looking to sell a home, you might want to invest in going solar first. The average home value in New Jersey is $300,000. Switching to solar energy can increase the property value by 3-4%, and homes sell 20% faster with solar energy.
One other benefit is that solar energy has an environmental impact. We all know how damaging to the planet our regular energy sources are. These large buildings and factories are the cause of 40% of carbon emissions in America, according to All Season Solar. Going solar can eliminate approximately three tons of carbon emissions per year. That is the equivalent of planting 100 trees.
Lastly, going solar can help the economy. Having solar energy as an option will help supply jobs to people. As solar energy gets popular, more jobs will open up, and more growth opportunities will be available. As of 2016, there were over 6,000 jobs in the solar energy industry in New Jersey. This number will continue to rise as it becomes more popular.
How Can I Go Solar?
Going solar doesn’t have to be complicated. The main concern for people when going solar is the upfront cost of it. There are a few ways you can go about getting your solar energy set up. The first way is buying it outright. Of course, this is a little difficult for a lot of people. It’s no secret that going solar can be pricey (but well worth it!!) Buying the system outright will ensure that everything is paid for. The owner will completely own the solar system. They can manage it themselves without the need for a middle person. You can apply for a solar loan to pay for the system outright.
It should be noted that to receive a solar loan, you must have excellent credit. Therefore, some people may not be eligible for the loan. This is the most cost-effective way to get it up and running without paying for the system entirely out of pocket.
The other way to obtain a solar system is with a lease. A solar lease will allow the homeowner to make payments per month on the system. In some cases, the owner may have to put a down payment on the solar system before obtaining a lease. A typical lease term is 15 to 25 years. In this case, the leasing company owns the solar system so that the leasing company will complete all maintenance and repairs. Leasing may be a good option because it does not require much money upfront.
Cons Of Going Solar
We would be lying if there weren’t some cons to going solar; although the cons do not outweigh the pros, you should consider them and be aware of them. The main con to going solar in New Jersey is the upfront cost. Going solar can cost upwards of $10,000. This may turn you away from it immediately, but as mentioned above, there are multiple ways to set up a solar system without paying $10,000+ upfront. You have options to apply for a loan or do a leased-based agreement. Either way, the money you will be saving in the long run by using solar energy will outweigh the money put into getting the solar system.
Another con is that you have to have space. Solar panels are quite large, and you may need 15+ solar panels for your home. Typically, the solar panels will be installed on the roof of your home; this will allow for maximum sunlight to hit the panels. This brings us to our next con, which is having an open area to get sunlight. You must have a somewhat open area so that your panels can get the maximum sunlight. This can be achieved by tree removal if necessary. Lastly, they aren’t exactly the best option if you are planning on moving. You cannot take the panels with you, so you will need to repurchase panels for the new home if you plan to move. Remember, homes with solar energy increase in value as well as sell faster.
Should I Go Solar In New Jersey?
It’s safe to say that the pros definitely outweigh the cons. Going solar can help you save lots of money on energy bills. It’s also better for the environment, and it can help increase property value. Going solar is the perfect option for you to impact the environment and do your part for the planet. It’s also an excellent fit for you if you want to save over $20,000 on energy bills. Going solar has a ton of benefits. New Jersey is making it extremely easy to want to change over to solar energy by offering rewards if you do so. Solar energy is the future. Go solar in New Jersey!
You can contact a professional to get more information about solar system installation.